Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 660 - AT - Income TaxApplicability of proviso 3rd and 4th to Section 80HHC(3) of the Act – Held that:- Following AVANI EXPORTS & OTHERS Versus COMMISSIONER OF INCOME TAX RAJKOT & ORS [2012 (7) TMI 190 - GUJARAT HIGH COURT] - the amendment brought in by the Finance Act 2005 by inserting 3rd and 4th proviso of section 80HHC(3) have no applicability with retrospective effect - The amendment is prospective in nature - the amendment is liable to be quashed to the extent that the operation of the section could be given effect from the date of amendment and not in respect of earlier assessment - in case of substantive amendment, retrospective operation can be given only if it is for the benefit of the assessees but not in a case where it affects even a fewer section of the assessees - the retrospective amendment should not be detrimental to any of the asesseees – the order of the CIT(A) is upheld – Decided against Revenue.
|